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Barbados, Costa Rica Meeting Strengthens Links

by Amanda Banks, Tax-News.com, London

05 July 2001

Costa Rica and Barbados established diplomatic relations back in 1972 but, since that time, Costa Rica has never made an official visit to Barbados, until now with the arrival of Costa Rica's Foreign Minister, Roberto Rojas Lopez. According to the Barbados government, Minister Rojas's recent three-day visit to the island has paved the way for the strengthening and deepening of relations between the two nations.

During his visit Minister Rojas met with several officials in the Barbadian private and public sectors, including the Ministers of Industry and International Business, Tourism and International Transport, Health and Foreign Affairs and Foreign Trade. At these meetings, issues aimed at promoting greater economic and commercial cooperation to the mutual benefit of both countries were discussed.

At a meeting with his Barbadian counterpart, Billie Miller, particular emphasis was placed on the need for strengthened democracy in the region. Recognising their countries shared democratic traditions based on human rights, good governance and the rule of law, both Ministers agreed to cooperate in supporting initiatives aimed at the promotion and strengthening of democracy.

Noting their shared similarities and difficulties as small developing states, they agreed on the need for cooperation in hemispheric negotiations, such as the Free Trade Area of the Americas, and in combating the threat posed to the security of their national boundaries by the trafficking of arms and illicit drugs. The need for sustainable development was also discussed.

Minister Rojas's meeting with the Industry and International Business Minister, Reginald Farley, led to talks on the sharing of investment strategies, the creation of a double taxation agreement and on countries being allowed to maintain jurisdiction over their tax systems and the regulation of those systems.

Minister Farley was particularly interested in securing technical assistance from Costa Rica and made a request for assistance in investment promotion and facilitation. Noting that Barbados was impressed with the quality of investment in Costa Rica, he said: 'Your Ministry of Industry has been strategic in your focus and we in Barbados could learn a lot from this.'

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